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Dec 26, 2021
Bloomin' Brands Q4 2021 Earnings Report
Bloomin' Brands reported strong Q4 2021 financial results with operating margin expansion.
Key Takeaways
Bloomin' Brands announced strong Q4 2021 results, marked by significant growth in sales, margin, and earnings. The company's strategy execution led to sustained gains in off-premises sales, increased digital engagement, and improved operational efficiencies. Bloomin' Brands also reinstated its quarterly dividend and authorized a new $125 million share repurchase program.
Q4 diluted EPS was $0.59, and adjusted diluted EPS was $0.60.
Comparable restaurant sales growth was 20.7% at Outback Steakhouse U.S. and 27.9% combined U.S.
The company reinstated a quarterly dividend of $0.14 per share.
A new $125 million share repurchase program was authorized.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Bloomin' Brands provided its financial outlook for the full year 2022, anticipating total revenues between $4.30B and $4.35B and GAAP diluted earnings per share between $2.13 and $2.22. The company also expects commodity inflation to be between 11% and 13% and plans for approximately 30 new system-wide restaurants.
Positive Outlook
- Total revenues of $4.30B to $4.35B
- EBITDA of $495M to $515M
- GAAP diluted earnings per share of $2.13 to $2.22
- Adjusted diluted earnings per share of $2.35 to $2.45
- Approximately 30 new system-wide restaurants
Challenges Ahead
- Commodity inflation of 11% to 13%
- Labor inflation in high single digits
- Capital expenditures of $225M - $240M
- Effective income tax rate of 16% to 17%
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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